Global Standard to Auto-Disable Syringe Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Standard to Auto-Disable Syringe Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Standard to Auto-Disable Syringe market finds that the global Standard to Auto-Disable Syringe market reached a value of USD 9405.9 million in 2022. It’s expected that the market will achieve USD 13312.27 million by 2028, exhibiting a CAGR of 5.96% during the forecast period.

Influence of COVID-19 Outbreak on Standard to Auto-Disable Syringe Industry Development

Many regions of the world are suffering from the second epidemic. For example, France has recently countered COVID-19. In mid-September 2020, there was an epidemic where more than 10,000 new cases were diagnosed in a single day, and it is still on the rise. Currently, India is the country with the second highest cumulative number of confirmed cases in the world. India said on April 22 that in the past 24 hours, the country had notified a total of 314,835 newly confirmed cases, bringing the total number of cases to nearly 16 million. In view of the intensified rebound of the epidemic, many countries have restarted prevention and control measures worldwide. Epidemic prevention and control measures will affect the flow of people and activities. This will affect logistics and make the production of the syringe industry suffer due to the supply of raw materials and lack of labor.

Drivers

Chinese medical production industry started relatively late, but Chinese rapid economic development, increasing social aging, and increasing awareness of people's health care drive the rapid development of Chinese syringe market. Such medical device industry has become one of the basic industries of Chinese national economy. At this stage, due to Chinese large population, large room for improvement in the healthcare system, growth in healthcare investment, adjustment of medical consumption structure, and improvement of the healthcare system are accelerating the development of the syringe market, so the potential market is still huge, which will bring Chinese syringe market huge opportunities in the future.

Limitations

Due to the existence of many suppliers, the market for syringes is inherently fragmented. Most players in the market must provide a wide range of product portfolios to gain a competitive advantage in the market, which will bring great development pressure to enterprises in the industry. Through mergers and acquisitions, joint ventures, contracts and agreements, and other cooperation that attract high revenue to the market during the forecast period, less powerful companies will be overwhelmed and annexed. In addition, market players must invest heavily in the development and manufacturing of new products and tech in order to obtain regulatory approvals, thereby occupying a leading position in the market competition, and product limitations make it difficult to implement such competitive advantages.

Opportunities

In Europe and North America, the medical security system is very sound, and the government attaches great importance to medical security. Almost all people in European countries and Canada enjoy universal health insurance. The U.S. medical industry ranks first in the world. About 75% of the government's annual medical expenses of about US$2 trillion are spent on diabetes and other chronic diseases. It can be seen that the Syringe industry should also be very valued. At the same time, the coverage of the medical system is still expanding, and the demand market for Syringe will become even greater.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Becton Dickinson, Medtronic, and Gerresheimer AG with the revenue market share of 17.72%, 4.94% and 3.39% in 2020.

Becton, Dickinson and Company is a global medical technology company engaged principally in the development, manufacture, and sale of medical devices, instrument systems, and reagents used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public.

Medtronic, Inc. proivdes medical devices. The Company offers surgical devices, medical instruments, apparatus, respiratory monitoring systems, medical supplies, and other equipments. Medtronic serves patients and health care professionals worldwide.

Segmentation Overview:

As for product types, the Standard Syringe segment held the largest market share in 2021.

Application Overview:

By application, the Public Hospital segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Standard to Auto-Disable Syringe market covered in Chapter 3:

Terumo Corporation
Becton Dickinson
Hindustan Syringes & Medical Devices Ltd
Nipro Corporation
Iscon Surgicals
Gerresheimer AG
AlShifa Medical Products
Smiths Medical
Fresenius Kabi AG
Weigao Group
Medtronic
Kindly Group
Baxter International
VOGT Medical
B. Braun Medical

In Chapter 4 and Chapter 14.2, on the basis of types, the Standard to Auto-Disable Syringe market from 2018 to 2029 is primarily split into:

Standard Syringe
Auto-Disable Syringe

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Standard to Auto-Disable Syringe market from 2018 to 2029 covers:

Public Hospital
Private Clinic
Nursing Home
Personal Care
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)